Monday Morning Market Watch for Medway, MA – 03/22/2010

Medway, Massachusetts

Buyer demand is outstripping available houses.  Houses are flying off the market and not enough new ones are coming on the market.  This week there are actually fewer houses on the market as a result despite the fact that this is the busiest time of the year for homes sales.  Homeowners who are on the fence about selling should reconsider. The buyers are out there now to take advantage of the tax credit.  Homeowners who wait until April or later will miss the boon from the tax credit will have a much harder time selling their homes.

Single Family Homes

Currently there are 54 single family homes on the market in Medway, Massachusetts.  The houses have an average list price of $427,000 and an average market time of 147 days.  There are 17 properties available for $300,000 or less. On the upper end of the scale, there are 4 properties listing for $700,000 or more. 

New Listings

Five new single family homes came on the market in the last week.  The new listings are located on Braod Acres Farm Road, Fisher Street, Holbrook Street, Lincoln Strete and Jasmine Road.  They range in price from $250,000 to $629,000.

Under Agreement

Seven properties went under agreement.  They are located on Main Street, Cassidy Lane, Holbrook Street, Summer Street, Neelon Lane, Broken Tree Road and Iarussi Way. Three other properties were flagged to go under agreement soon.

Sold

Two single family homes sold in the last week in Medway.  The first was a 3 bedroom, 5 room ranch on Meadow Road that sold for $180,000.  It had been on the market only 4 days.  The other was a 3 bedroom, 7 room gambrel on Saddle Hill Road that sold for $334,500.

Condos

There are currently 10 condos on the market in Medway.  The condo average list price is $322,000 with an average price per square foot of $169.  Average time on market is 88 days.  One new condo came on the market.  It is a 2 bedroom at Sanford Mills.  One condo went under agreement.  It was a 3 bedroom townhouse on Heritage Drive.

Multi Families

There are 5 multi-families on the market in Medway. Average list price for multi-families is $262,000 with an average time on market of 244 days.  

Please give me a call for more information on homes in Medway.